Capital One Sees Charge-Offs, Delinquencies Rise in July

Capital One Financial Corp. reported a month-over-month rise in charge-offs and delinquencies by 0.06% and 0.36%, respectively, according to a monthly report ending July 31. The rise in charge-offs is in line with previous statements from Capital One, including its second-quarter earnings. Charge-offs rose to 1.8% in July, and delinquencies 30 days past due reached 5.8%. […]
  • Emma Sandler
  • August 16, 2017
  • 0

Westlake Emerges as Preferred Subprime Lender for CARite

Westlake Financial Services is the new leading provider of subprime and near-prime retail contract loans at CARite dealerships through a strategic partnership announced in a joint press release Thursday. Westlake snagged the preferred subprime lender slot over two larger players in the space. Ally Financial Inc. and Capital One Auto Finance were already originating on […]
  • William Hoffman
  • August 11, 2017
  • 2

AmeriCredit’s ABS Performance Remains Stable, Moody’s Says

AmeriCredit’s subprime ABS deals “have weathered better than its subprime peers” — including the lender’s most recent securitization — thanks to its “prudent” underwriting process, according to a presale report by Moody’s Investors Service. The AmeriCredit Automobile Receivables Trust 2017-3 is a $1.3 billion transaction backed subprime retail installment auto loans. The weighted Fico score […]
  • Huixin Deng
  • August 8, 2017
  • 0

Lobel to Create Custom Scorecard Using Alternative Data

Lobel Financial teamed up with FactorTrust to use alternative data in a new, in-house custom scorecard, the companies announced today. “We looked closely at what FactorTrust could offer and decided that its many attributes — delivered in real-time — would help us best reach our goal of establishing enhanced segmentation for the development of our […]
  • Huixin Deng
  • August 4, 2017
  • 0

How Warm Is Your Welcome?

The most successful auto servicers know the welcome call is more than just a formality to perform when a new account comes on board. It is the first opportunity to delight and engage borrowers with your brand, capture and share information, and promote the services you provide. For a typical borrower, it is the start […]
  • July 31, 2017
  • 0

Side-by-Side Volume Rises at Marine One, Despite Tighter Lending

DALLAS — Marine One Acceptance Corp. continues to see growth in the side-by-side segment, despite tightening lending criteria at the end of last year, President Martin Angel told Powersports Finance. The side-by-side segment has grown in each of the past several years, and it is growing again this year, he said. Marine One “tightened up […]
  • Natalie Mattila
  • July 25, 2017
  • 0

Why Lenders Should Take Advantage of Alternative Data

There was some variation in what data was considered alternative, according to FactorTrust’s Alternative Data Survey Results. Overall, the definition of alternative data was quite unanimous as “credit related data not found on the traditional three credit reports,” according to the June survey. For example, FactorTrust, LexisNexis, Clarity, TransUnion L2C, TransUnion TLO, Equifax, The Work Number (Verification Services), Equifax […]
  • Huixin Deng
  • July 11, 2017
  • 0

Marine One Sticks to Credit Strategy, President Says

DALLAS — Credit performance remains “stable” for Marine One Acceptance Corp., which is why the nonprime lender is keeping its focus on maintaining the credit quality of its portfolio, President Martin Angel told Powersports Finance. “We are happy with the performance of all of our products,” he said. The top priority for the company is the same every […]
  • Natalie Mattila
  • July 10, 2017
  • 0

Compliance Pressure Points [SPONSORED]

Automotive dealers and lenders are facing tremendous profitability pressures this year. In fact, the Federal Reserve raised interest rates by 0.25 basis points in June — and signaled more increases were on the horizon. This increase will most likely exacerbate the trends already present, including low unit sales and soft applications. Now — more than ever — lenders […]
  • EFG Companies
  • June 30, 2017
  • 0

CFPB Complaint Volumes Rise in 2017

The Consumer Financial Protection Bureau released a special edition of its monthly complaint report yesterday, showing continued increases in the volume of complaints. “As of June 1, 2017, the Bureau has received more than 1,218,600 complaints,” said Richard Cordray, director of the CFPB in a statement. “The complaints handled in 2016 has seen a 7% […]
  • Huixin Deng
  • June 29, 2017
  • 0
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